CERTIFICATE OF LIABILITY INSURANCE

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ANY PROPRIETOR/PARTNER/EXECUTIVE OFFICER/MEMBER EXCLUDED?

INSR ADDL SUBR

LTR INSD WVD

PRODUCER CONTACTNAME:

FAX PHONE

(A/C, No): (A/C, No, Ext):

E-MAIL ADDRESS: INSURER A : INSURED INSURER B : INSURER C : INSURER D : INSURER E : INSURER F :

POLICY NUMBER POLICY EFF POLICY EXP

TYPE OF INSURANCE (MM/DD/YYYY) (MM/DD/YYYY) LIMITS

AUTOMOBILE LIABILITY

UMBRELLA LIAB EXCESS LIAB

WORKERS COMPENSATION AND EMPLOYERS' LIABILITY

DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required)

AUTHORIZED REPRESENTATIVE

EACH OCCURRENCE $ DAMAGE TO RENTED

CLAIMS-MADE OCCUR PREMISES (Ea occurrence) $

MED EXP (Any one person) $ PERSONAL & ADV INJURY $

GEN'L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $

PRO-POLICY JECT LOC PRODUCTS - COMP/OP AGG

OTHER: $

COMBINED SINGLE LIMIT $ (Ea accident)

ANY AUTO BODILY INJURY (Per person) $

OWNED SCHEDULED

BODILY INJURY (Per accident) $ AUTOS ONLY AUTOS

HIRED NON-OWNED PROPERTY DAMAGE

$

AUTOS ONLY AUTOS ONLY (Per accident)

$

OCCUR EACH OCCURRENCE

CLAIMS-MADE AGGREGATE $

DED RETENTION $

PER

OTH-STATUTE ER E.L. EACH ACCIDENT E.L. DISEASE - EA EMPLOYEE $ If yes, describe under

E.L. DISEASE - POLICY LIMIT DESCRIPTION OF OPERATIONS below

INSURER(S) AFFORDING COVERAGE NAIC #

COMMERCIAL GENERAL LIABILITY

Y / N N / A (Mandatory in NH)

SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.

THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.

THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.

IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s).

COVERAGES CERTIFICATE NUMBER: REVISION NUMBER:

CERTIFICATE HOLDER CANCELLATION

© 1988-2015 ACORD CORPORATION. All rights reserved. ACORD 25 (2016/03)

CERTIFICATE OF LIABILITY INSURANCE

DATE (MM/DD/YYYY)

$

$

$

$

$

The ACORD name and logo are registered marks of ACORD

Mike DiNino LAKEP-9 OP ID: MD 05/04/2020 Mike DiNino LaBarre/Oksnee Insurance MD License # 0C84283 30 Enterprise #180 Aliso Viejo, CA 92656 Mike DiNino 800-698-0711

Harco National Ins Co

Continental Casualty Company Lake Park Villas HOA

Vision Community Management 16625 S Desert Foothills Pkwy Phoenix, AZ 85048

PMA Insurance Group

A X 1,000,000 X X TBD 05/01/2020 05/01/2021 100,000 B X 05/01/2020 05/01/2021 5,000 1,000,000 2,000,000 X 2,000,000 1,000,000 A TBD 05/01/2020 05/01/2021 X X A TBD 05/01/2020 05/01/2021 10K DED 16,720,500*

C Fidelity Bond X TBD 05/01/2020 05/01/2021 1K DED 500,000

Property coverage is Bare - Walls (excludes units) with *Guaranteed Replacement Cost*, Special Form, Wind & Hail, Bldg Ord/Law (A,B,C), BMAC, 30 days NOC, no co-ins, Severability of Interest. Property Management is Additional Insured on the General Liability, D&O, and Fidelity Bond. 144 units. Located in Tempe, AZ 85283.

VISIONP Vision Community Management

16625 S. Desert Foothills Pkwy Phoenix, AZ 85048 800-698-0711 26433 20443 12262 TBD

D&O IS CLAIMS MADE

D&O $1,000,000 D&O DED: $2,500

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May 4, 2020

THE FOLLOWING GIVES IMPORTANT INFORMATION REGARDING YOUR ASSOCIATION’S INSURANCE.

PROPERTY COVERAGE – Effective May 1, 2020. Guaranteed Replacement Cost coverage is provided for the Buildings and all separate structures, including the Common Areas and Common Elements owned by the Association. There is a $10,000 Deductible for all non water related claims and a $10,000 Deductible for all

water related claims. Basically, any direct physical loss to a building or separate structure is covered except

loss by perils that are specifically excluded. Some of the standard exclusions are nuclear war, wear and tear, flood, damage by insects and vermin, inherent vice, subsidence and faulty construction. This is not a

maintenance policy and will only provide coverage if the building has first been damaged by a covered peril as described in the policy.

General Liability: $1,000,000 per occurrence and $2,000,000 aggregate.

This $2,000,000 of liability coverage protects your Association from lawsuits arising out of the injuries that occur within the common areas owned by the Association. This liability does not protect individual unit owners for their liability exposure arising out of the ownership, maintenance, or use of their own individual units.

Director & Officers Coverage: $1,000,000 per occurrence.

This $1,000,000 of liability coverage protects the board for the cost of defense and claims arising from the lawsuits alleging that the directors had failed to properly perform their required duties.

Fidelity Bond: $500,000 with PMA Insurance

These bonds protect only against fraudulent or dishonest acts by the persons named in the policy, generally the board of directors. Fidelity bonds DO NOT COVER mysterious disappearance, burglary or thefts by outside parties, ordinary mismanagement of funds or overspending.

Unit Owners are responsible to insure the interior of their unit and their personal liability. This policy is commonly referred to as a BARE-WALLS policy. It is recommended that owners include enough coverage to replace anything inside their unit including (i.e ac units, cabinets, flooring, walls, fixtures and appliances). The association’s insurance policy will only be responsible to insure the common elements. We also recommend that unit owner policies insure additional living expenses, loss assessment and any gaps in coverage. Owners

personal lines agents should know and understand that they may be responsible for the $10,000 deductible if a loss results from an area within their responsibility.

Be sure and contact your personal insurance agent to make sure that you are adequately covered and your coverage coincides with the Association’s insurance. Report all claims immediately to the Community Association Manager.

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What a Unit Owner Needs When Association policy is BARE WALLS

The interior of the unit is the Owners responsibility

COVERAGES FOR YOUR PERSONAL INSURANCE

Almost all condo associations provide basic property coverage for fire, theft and vandalism. These policies will cover the individual units; however, there may be some exclusions. Each year your association is required to mail an insurance disclosure to every owner. It is always a good idea to fax the disclosure to your insurance agent for an annual review of your personal policies.

The most important coverage for condo owners are:

Personal Liability – Pays damages which you are legally obligated to pay because of

bodily injury or property damage resulting from an occurrence.

Umbrella Liability- Additional liability coverage, available with your automobile policy.

This policy is usually written through your auto policy agent.

Personal Property –Moveable items, such as furniture, clothes, dishes, appliances,

computers, etc.

Building Property – Covers the interior including Cabinets, fixtures, appliances, wall

coverings, carpet or floor coverings, window coverings and anything else that has been installed in the interior of the unit. It is also a good idea to advise your personal carrier of the Master policy deductible, it is the unit owners responsibility to pay for that! Many carriers will cover the HOA policy deductible as it is an important Gap to close!

Loss of use – Helps with necessary increase of living expenses if you cannot stay in the

condo due to a covered loss.

Guest Medical – Will pay reasonable charges for medical, surgical, x-ray, dental, etc.

resulting from an occurrence on your property.

Loss Assessment – Pays for covered losses in common areas of the association that exceed

master policies coverage which result in a special assessment to all unit owners equally.

Earthquake loss assessment – pays for losses related to the living units in the event of an

earthquake that may result in a special assessment to all unit owners equally.

Jewelry & Art - high value jewelry and/or collectibles should be covered under a

“scheduled or non scheduled floater”.

Compliments of:

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EOI Instructions For Homeowners with Letter from Lender Requesting Proof of

Renewal

Go to www.EOIDirect.com

Under

First-Time Users

,

select

Homeowner/Home Buyer

in the drop-down box.

-Continue

Enter your email and create a password.

Next to the “I am A:” drop down box, select

Homeowner/ Home Buyer

-Continue

Home Owner/ Home Buyer Registration:

Fill- out and complete homeowner’s information

-Save and Continue

User Service Agreement:

Review terms. Some will not apply to homeowners.

-Accept and Continue

Successfully Registered:

- Select Continue

You will be transferred to the Log-In Screen

Enter your new username and password, under Existing Users.

Control Center Screen:

Click on the words “Evidence of Insurance”: Order a Certificate of Insurance

Fill in Homeowners Association Name and Select State. (You will need to know the

association’s legal name).

-Continue

Next, select which association best matches.

-Continue

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Select- I have received a letter from my lender requesting an annual update of

my insurance policy. (Your lender may indicate they will be purchasing, or have

purchased, insurance on your behalf).

-Continue

Next, you will be asked to input

Borrowers

Last Name and

Loan Number

to locate

your account. If the system does not find your lender’s information, then you will

be given the opportunity to input that information.

-Fill in required fields and click

Continue

Select Delivery Method:

Select preferred method of delivery.

Email or Fax options will both be free of charge.

-Continue

Lastly, write the order number at the top of the Lenders Request letter and fax to

(208) 379- 4341.

A copy of the Certificate of Liability with the updated mortgagee clause will be

sent to your lender, in addition to you as requested.

Figure

Updating...

References

Related subjects : Liability and Insurance